Marathon Petroleum Corporation $MPC Shares Bought by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its Marathon Petroleum position by 28.8% in the third quarter, bringing its holdings to 15,780 shares valued at approximately $6.24 million. Institutional investors own 76.77% of MPC’s outstanding shares.
• MPC shares opened at $484.44, near their 52-week high of $485.22, after the company reported quarterly EPS of $17.73 versus the $14.27 consensus estimate and 53.5% year-over-year revenue growth.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $417.88, although insider selling and concerns about valuation following the stock’s sharp multiyear rally present potential risks.

First Citizens Bank & Trust Co. lifted its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 28.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,780 shares of the oil and gas company's stock after buying an additional 3,525 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Marathon Petroleum were worth $6,240,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in Marathon Petroleum in the 2nd quarter valued at $6,648,958,000. Bank of New York Mellon Corp acquired a new position in shares of Marathon Petroleum during the 2nd quarter worth about $1,029,611,000. Bank of America Corp DE grew its holdings in Marathon Petroleum by 1.6% in the 1st quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company's stock valued at $633,668,000 after buying an additional 40,124 shares during the last quarter. Amundi increased its position in Marathon Petroleum by 17.5% in the 2nd quarter. Amundi now owns 2,237,930 shares of the oil and gas company's stock worth $572,172,000 after buying an additional 332,551 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Marathon Petroleum by 16.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company's stock worth $385,675,000 after buying an additional 215,686 shares during the period. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum News Roundup

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Barclays raised its price target to $488, indicating continued confidence in Marathon Petroleum’s outlook and leaving modest implied upside from recent levels. Barclays raises Marathon Petroleum stock target to USD 488.00
• Positive Sentiment: Citigroup lifted its target sharply to $518 from $318. Although Citi maintained a neutral rating, the higher valuation reflects improved expectations for the refiner’s earnings and cash generation. Marathon Petroleum stock 10-month winning streak
• Positive Sentiment: MPC is being highlighted alongside BP, PBF and Valero as a relatively low-beta energy stock that may provide resilience amid elevated oil prices, Middle East tensions and broader market volatility. Stay Ahead of Market Swings With BP, PBF, VLO & MPC
• Positive Sentiment: Technical momentum remains strong: the stock is approaching a potential 10-month winning streak, a pattern last seen in 2013, while the refining ETF CRAK has posted substantial gains this year. Marathon Petroleum stock 10-month winning streak
• Neutral Sentiment: DBS reiterated a Hold rating, suggesting the firm sees balanced upside and downside after MPC’s substantial rally. DBS Keeps Their Hold Rating on Marathon Petroleum
• Negative Sentiment: Investors are questioning whether MPC’s share price still reflects reasonable intrinsic value based on future cash flow after an approximately sevenfold five-year return. This raises the risk that valuation, rather than fundamentals, could weigh on the stock. Can Marathon Petroleum Still Justify Its Price On Cash Flow?

Marathon Petroleum Trading Up 1.6%

Shares of MPC opened at $484.44 on Thursday. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $485.22. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The stock has a 50 day simple moving average of $390.48 and a 200-day simple moving average of $306.16. The stock has a market cap of $141.43 billion, a PE ratio of 18.03, a PEG ratio of 0.15 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping the consensus estimate of $14.27 by $3.46. The business had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%. Marathon Petroleum's revenue was up 53.5% on a year-over-year basis. During the same quarter last year, the company earned $3.96 EPS. On average, sell-side analysts predict that Marathon Petroleum Corporation will post 61.17 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, August 19th. Marathon Petroleum's dividend payout ratio is currently 13.75%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the completion of the transaction, the vice president directly owned 1,576 shares of the company's stock, valued at approximately $571,757.04. This trade represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Molly Benson sold 17,196 shares of the business's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the completion of the sale, the insider owned 30,334 shares in the company, valued at $10,876,862.38. This represents a 36.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 21,691 shares of company stock valued at $7,780,127. 0.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of research analyst reports. Citigroup upped their price target on Marathon Petroleum from $318.00 to $518.00 and gave the stock a "neutral" rating in a report on Tuesday. Morgan Stanley lifted their price objective on Marathon Petroleum from $265.00 to $453.00 and gave the stock an "overweight" rating in a report on Monday, September 14th. Jefferies Financial Group restated a "hold" rating and set a $433.00 price objective on shares of Marathon Petroleum in a research report on Sunday. Zacks Research upgraded Marathon Petroleum from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 4th. Finally, Piper Sandler upped their target price on Marathon Petroleum from $344.00 to $462.00 and gave the company an "overweight" rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $417.88.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation NYSE: MPC is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.

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